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Will the loan forgiveness be automatically applied to the amounts one still owes on their loans, as in there's no application process to get it to happen? My loans were federal and have been traded between several different loan servicers. Also, I recieved 1 Pell Grant for a small amount back during the Great Recession. Most of my loans were not Pell Grants. Would I only get the 10,000 forgiveness plus enough to cover the Pell Grant portion, or does 1 small Pell Grant qualify you for the entire 20,000 (Or whatever you have left)?
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Aug 26, 2022 14:58
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| # ¿ May 17, 2024 17:56 |
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Bonoman posted:I don't know about the second part, but for the first part I believe if you've been diligently filing your taxes and the have all your info on file... then the forgiveness should happen automatically. Leon Trotsky 2012 posted:1) If the DOE has your income information on file (you are on IBR, you filed out a FAFSA form in the last two years, you submitted your income/tax returns to the DOE for income verification or any other reason, etc.) then it will be automatic. Sweet, thanks guys. This'll help quite a bit.
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Aug 26, 2022 16:50
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I have not seen any such email, will have to ask the wife who similarly applied.
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Nov 21, 2022 16:36
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Question, I've seen that PAYE email about applying and seeing if it can lower my monthly rate. Can it raise how much you have to pay if you make a decent amount (Regardless of your current debt amounts)? Or will it just say "sorry, you don't qualify for a reduced rate"?
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Oct 23, 2023 16:45
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